Student Loan Forgiveness Program

Through the Student Loan Forgiveness Program, BBEDC offers financial assistance to residents with students loans as an incentive to bring college/technical school graduates back to Bristol Bay. Applicants must have been a resident of a Bristol Bay CDQ community prior to earning their degree/license/certificate, earned their degree/license/certificate, and then worked in a Bristol Bay CDQ community for 12 months before applying. The program forgives up to a total of $20,000 of a student loan with payments disbursed to the lending agency over a 5 year period. In the first year 10% of the loan principle is forgiven, 20% the second year, 30% the third year, 50% the fourth year, and 100% the fifth year. Participants must keep their loan payments current to remain eligible for the program.